FinVolution Group Announces Strategic Investment and Partnership with Fujian Haixia Bank
FinVolution Group American Depositary Shares (FINV)
Company Research
Source: PR Newswire
SHANGHAI, Dec. 16, 2019 /PRNewswire/ – FinVolution Group (formerly known as "PPDAI," or the "Company") (NYSE: FINV), a leading fintech platform in China, today announced the completion of an equity investment in Fujian Haixia Bank ("FHB"). Pursuant to the share purchase agreement, FinVolution Group has subscribed for 281 million of newly issued shares of FHB which accounted for approximately 4.99% of FHB's total issued shares at the closing of this transaction. Concurrent with the equity investment agreement, FinVolution Group and FHB entered into a strategic partnership, such that both parties will cooperate with a focus on consumer finance to amplify efforts to enhance operating efficiencies, expand markets, improve credit risk management capabilities and enhance operation capabilities in addition to other activities. Founded in 1996 and headquartered in Fuzhou, China, FHB has a network of 73 branches and sub-branches across Fujian province and four branch outlets in Zhejiang provi
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FINV
Sec Filings
- 4/25/24 - Form 20-F
- 3/21/24 - Form 144
- 3/19/24 - Form 6-K
- FINV's page on the SEC website